The Best Mortgage Lenders in Frederic, WI
Compare verified mortgage lenders serving Frederic, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Frederic
Featured Mortgage Lenders
Royal Credit Union Mortgage Team
Royal Credit Union
Royal Credit Union stands out as one of Wisconsin's top-rated mortgage lenders with exceptional customer satisfaction ratings. While based in Hudson (approximately 30 minutes from Frederic), they serve the entire Northwest Wisconsin region with dedicated mortgage specialists who provide personalized service. Their strong community presence, competitive rates, and comprehensive loan programs—including specialized rural and USDA loans perfect for the Frederic area—make them a premier choice. Members consistently praise their responsive communication, streamlined application process, and local underwriting expertise.
Loan Types:
Waterstone Mortgage Hudson Team
Waterstone Mortgage Corporation
Waterstone Mortgage's Hudson branch serves the Frederic area with exceptional expertise in rural and suburban home financing. As a nationwide lender with strong local presence, they combine the resources of a large institution with personalized community service. Their mortgage advisors are particularly skilled with USDA rural development loans and construction financing, making them ideal for the Frederic market. Customers consistently highlight their competitive rates, transparent process, and exceptional guidance through complex loan scenarios, with many reviews mentioning smooth closings and excellent communication.
Loan Types:
Wells Fargo Home Mortgage
Wells Fargo Bank
Wells Fargo provides comprehensive mortgage services to the Frederic area through their extensive regional network, including dedicated mortgage consultants who serve Northwest Wisconsin. As one of the nation's largest mortgage lenders with deep roots in the Midwest, they offer competitive rates and a wide range of loan products. Their strong digital platform combined with local expertise makes them accessible to Frederic residents, with special programs for rural properties and first-time homebuyers. Despite their size, customers report personalized service and experienced loan officers who understand the local real estate market dynamics.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Frederic, WI
What are the current mortgage rates like in Frederic, WI, and how do they compare to state or national averages?
Mortgage rates in Frederic typically align closely with national averages, but local credit unions like Royal Credit Union or Bank North often offer competitive rates, sometimes slightly below national benchmarks for well-qualified buyers. It's wise to get quotes from both local lenders and larger national companies, as local institutions may have more flexibility and understanding of the rural property market common in Polk County.
Are there any down payment assistance or first-time homebuyer programs specifically for Frederic or Polk County?
Yes, the Wisconsin Housing and Economic Development Authority (WHEDA) offers statewide programs like the WHEDA Advantage and WHEDA Conventional loans, which are accessible to Frederic buyers and provide low down payments and competitive rates. Additionally, local initiatives or grants through the Polk County Housing Authority may occasionally be available, so checking with them directly is recommended for first-time buyers with moderate incomes.
How does appraising a home in a rural area like Frederic differ from an urban area, and could it affect my mortgage?
Appraisals in Frederic can be more complex due to the rural setting and potentially fewer comparable sales ("comps"). Lenders may require appraisers familiar with the area who can properly value properties with acreage, wells, and septic systems. This process can sometimes take longer and, if comps are scarce, could potentially affect the appraised value and final loan amount, so it's important to work with a lender experienced in rural properties.
What should I know about property taxes and insurance when budgeting for a mortgage in Frederic?
Property taxes in Frederic and Polk County are generally moderate compared to more urban parts of Wisconsin. Your lender will estimate these for your escrow account based on the mill rate. For insurance, due to the rural location and proximity to wooded areas, you may need to factor in specific coverage for outbuildings or consider a separate policy for flood or fire protection, which can influence your total monthly payment.
Are there specific loan considerations for buying a home on a larger lot or with acreage in the Frederic area?
Absolutely. If you're purchasing a property with significant acreage (often over 10 acres) or agricultural potential, some conventional loan programs may have restrictions. You might need to explore a rural development loan, such as a USDA loan (which Frederic is eligible for), or an agricultural-purpose loan. Be prepared to provide more details about the land's use, as this can impact the type of mortgage you qualify for and the down payment required.
Why Choose a Mortgage Lender in Frederic?
Local Market Knowledge
Lenders who understand Frederic's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Wisconsin.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Frederic and get competitive rates on your home loan.